SBI vs HDFC Bank vs ICICI Bank RD Rates: The continuous increase in the Reserve Bank’s Repo Rate is having a direct impact on the customers of the bank. Where on the one hand government and private sector banks across the country are increasing the interest rates of their loans. On the other hand, he is also continuously increasing his Bank Deposit Schemes. Recently many banks have decided to increase the interest rate in their Recurring Deposit Schemes.
These banks are State Bank of India, HDFC Bank and ICICI Bank. All these banks have increased their RD rates. In such a situation, customers are getting a tremendous return of 6.20% on FDs up to 2 years. Let us know about the interest rate offered by different banks on RD scheme-
State Bank Of India RD Rates
SBI (SBI RD Rates) has increased the interest rates of its RD scheme on 22 October. The bank has taken this decision after the decision of RBI to increase the repo rate. The bank is now offering interest rates ranging from 6.10% to 6.25% on RD schemes of 1 to 10 years. SBI is offering 6.10% interest rate on 1 to 2 year FD scheme, 6.25% on 2 to 3 year RD scheme, 6.10% on 3 to 5 year scheme and 6.10% on 5 to 10 year scheme. .
HDFC Bank RD Rates
Private sector big bank HDFC Bank has decided to increase its RD rates every period. The bank is getting 4.50% interest rate on 6 months RD, 5.25% on 9 months RD, 6.10% on 12 months RD, 6.15% on 15 months to 24 months RD. On the other hand, if you are getting 6.20% interest rate on RD of 90 to 120 months in the bank. The new rates of the bank have come into effect from 26 October 2022.
ICICI Bank RD Rates
ICICI Bank is offering its customers interest rates ranging from 4.25% to 6.20% on RD schemes ranging from 6 months to 10 years. These new rates have come into effect from 18 October 2022. Banks offer RD schemes for more than 6 months on a multiple of 3 months. In this case, the maximum interest rate you can get is 6.20%.